The Official Student Loan Debt Slavery Thread

[JoeP]

ZH however still does report on many stories you won't find in the MSM, and is a good source of collapse info.

RE

Lord knows, I certainly hope so...considering the volume of ZH content you have posted here.
 

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[Snowleopard]

The whole meme there is that the Bizness of Amerika is Bizness, and if you just let the Free Market go BERZERK and get rid of Goobermint, we would be doing GREAT!

They love to hate Keynesians and Fiat Money, except they all trade arund the Fiat every day and the minute Da Fed stops printing they will first go broke and then be pissed the endless stream of liquidity isn't there to mess around with on their Bloomberg Terminals.  Basically, they are a big bunch of Hypocrites and Fools, Tyler Durdens included there.

RE

Among the other contradictions in this meme:

"Gooberment" is a wholly owned subsidiary of Bizness. It brings in too much profit to Bizness to get rid of and, of course, it lets its owners go beserk!

The US printer of fiat, the FED, IS a  Bizness, owned by the Banksters.

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[RE]

Higher Education Financialism by yours truly RE now UP on the Diner Blog!

This is an expansion on a post I made here inside this thread with some additional material to digest with your Bloody Maries at Sunday Brunch.

RE

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[Surly1]

In keeping with trying to catch up on what's been going on, I read your recent article with interest. I have to ask, what changes in student loans laws has actually occurred? When last I bothered to look into this, student loans were not dischargeable, even in bankruptcy. I recall even reading about how one particular bank had hounded the parents of the dead student for the balance of outstanding loan. Bastards. Has some specific legislation occurred to enable the freewheeling cash flow bonanza that you describe in your post?

Inquiring minds want to know. 

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[JoeP]

In keeping with trying to catch up on what's been going on, I read your recent article with interest. I have to ask, what changes in student loans laws has actually occurred? When last I bothered to look into this, student loans were not dischargeable, even in bankruptcy. I recall even reading about how one particular bank had hounded the parents of the dead student for the balance of outstanding loan. Bastards. Has some specific legislation occurred to enable the freewheeling cash flow bonanza that you describe in your post?

Inquiring minds want to know.

Surly, see reply #11 in this thread.

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[Petty Tyrant]

"gatekept jobs in law and medicine cant be outsourced to Chindians" I saw a program where they had a whole floor of indian law grads like a call centre where they were outsourcing to. Obviously This doesnt benefit J6P who still has to pay 300-400$/hr for a lawyer sending him broke. It does work well for that expensive lawyer who gets all the legwork stuff done at a discount, also the big players who outsource to them.

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[g]

We have just wasted uncountable billions in the Middle East, with nothing to show for it. Just pissed away trillions on tarp and all other bail out bull shit, most of which the Fed want's kept secret.

But we can't  provide universal Free Education for our youth. Kindergarden through four years of college?

What better investment could there be for the future well being of our country? Who made the dick head decision to stop it at high school?

When are we going to elect some leaders that don't have their heads stuck up their ass or a banksters? 

I just don't get it.

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[widgeon]

I bet you do get it.  Because at this point, the true answer is unavoidably obvious.

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[Stucky1]

I despise Banksters with every fiber in my body ... and I have a LARGE body.  OK?

That being said, why blame bankers for student debt?  Sure, debt is a form of servitude.  But, did someone hold a gun to the student's head when he/she took out a $100k loan?  Of course not.  They entered into this Debt CONTRACT voluntarily. Pay your fuckin' debt and STFU!!! And don't give me any bullshit about the gub'mint not paying their debts, or whatever. Two wrongs don't make a right. Quit blaming everything and/or everyone for your problems, Mr. Student Debtor. STFU and take personal responsibility.

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[Surly1]

In keeping with trying to catch up on what's been going on, I read your recent article with interest. I have to ask, what changes in student loans laws has actually occurred? When last I bothered to look into this, student loans were not dischargeable, even in bankruptcy. I recall even reading about how one particular bank had hounded the parents of the dead student for the balance of outstanding loan. Bastards. Has some specific legislation occurred to enable the freewheeling cash flow bonanza that you describe in your post?

Inquiring minds want to know.

Surly, see reply #11 in this thread.

Still playing catchup. Got it now. Whouda thunk it?
Amazing.

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[Petty Tyrant]

people arent thinking much about it when theyre 18-22, they think they will be on the big bucks when they graduate and it wont be a problem. Parents should set them str8 from the start and tell them to work through uni, that way they appreciate low wages without benefits and being easily expendable working at walmart etc.

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[monsta666]

I despise Banksters with every fiber in my body ... and I have a LARGE body.  OK?

That being said, why blame bankers for student debt?  Sure, debt is a form of servitude.  But, did someone hold a gun to the student's head when he/she took out a $100k loan?  Of course not.  They entered into this Debt CONTRACT voluntarily. Pay your fuckin' debt and STFU!!! And don't give me any bullshit about the gub'mint not paying their debts, or whatever. Two wrongs don't make a right. Quit blaming everything and/or everyone for your problems, Mr. Student Debtor. STFU and take personal responsibility.

But don't you think that a lot of these young people have been somewhat deceived not just from teachers and advisor but by their parents that getting a degree is a ticket to getting a good job? A lot of them have been sent a bill of goods and while I would not put the sole responsibility on the parents, the kids still hold most of the fault, I do think the older members of society should stress the risks more strongly before making these decision. The failure of them doing means they must shoulder some of the blame. In many cases not only are many adults painting a college education as the way to go but they even pressurise to go into college and go into debt. So in this sense the student is suffering not only because of their poor decision but also the poor decisions of their parents and educational advisor.

Yes you can make a case they should pay regardless and they need to learn the dangers of debt but even with this argument it is not quite right. Student debt unlike most other loans, are non dis-chargeable even after bankruptcy. This is not fair. If you make it a loan they should be relieved of their debts if they declare bankruptcy. It is like you said the debt is a legal contract which is made between TWO parties. While the student must ensure they have plans to repay this debt so they can honour their side of the contract it is also the responsibility of the lender to ensure their clients can payback the loans. If they cannot make good assessments about the capability of their clients through due diligence then they need to suffer the consequences. That is the way it works for most loans.

With this set-up all the risks are borne on the clients and the banks who lend the money suffer no risk of losing this money. This dynamic will therefore lead to excess loans being issued, often through predatory means, and will ultimately lead to investment. More significant however is this policy of non-dischargeable debt means the market is not following the principles of a free market as ultimately it is the governemnt and students who end up having to foot the bills for all these malinvestments and are therefore subsidising the whole industry.

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[Snowleopard]

I despise Banksters with every fiber in my body ... and I have a LARGE body.  OK?

That being said, why blame bankers for student debt?  Sure, debt is a form of servitude.  But, did someone hold a gun to the student's head when he/she took out a $100k loan?  Of course not.  They entered into this Debt CONTRACT voluntarily. Pay your fuckin' debt and STFU!!! And don't give me any bullshit about the gub'mint not paying their debts, or whatever. Two wrongs don't make a right. Quit blaming everything and/or everyone for your problems, Mr. Student Debtor. STFU and take personal responsibility.

I agree with your opinion of banksters. 

Personal/individual responsibility is a great study subject. 

So are independent thought and critical thinking. 

These subjects just don't happen to be taught at LocalEd.gov;  Instead they are usually shills for Big Ed and teach groupthink.   Much of the remainder of a kid's info comes from MSM which IS controlled by the banksters. 

Parents have some responsibility here, but, if they have a clue at all, they are usually too burned out from working to overmatch the teachers union, guidance councelors, MSM and peer pressure.

Sure it IS the kid's responsibility.  But someone needs to explain that reality to him before dotted line time.  Maybe he should be required to write out that explanation long hand and sign it first??

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[g]

people arent thinking much about it when theyre 18-22, they think they will be on the big bucks when they graduate and it wont be a problem. Parents should set them str8 from the start and tell them to work through uni, that way they appreciate low wages without benefits and being easily expendable working at walmart etc.

They don't have parents anymore, they are broke, miserable, despondent slaves of the banksters and their usury.

The government and the banksters are their new parents, teaching them the wonders of a good education, and hiding the facts about usury and bondage.

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[RE]

I despise Banksters with every fiber in my body ... and I have a LARGE body.  OK?

That being said, why blame bankers for student debt?  Sure, debt is a form of servitude.  But, did someone hold a gun to the student's head when he/she took out a $100k loan?  Of course not.  They entered into this Debt CONTRACT voluntarily. Pay your fuckin' debt and STFU!!! And don't give me any bullshit about the gub'mint not paying their debts, or whatever. Two wrongs don't make a right. Quit blaming everything and/or everyone for your problems, Mr. Student Debtor. STFU and take personal responsibility.

Actually, an Economic Gun IS pointed at your head to take out these loans.  Everybody including your parents tells you that if you don't get a Sheepskin, you are gonna be sweeping floors and scrubbing toilets or flipping burgers the rest of your life, and since Union Jobs in industry flew offshore, the jobs for academic dummies who did great in Shop Class don't exist anymore.  In fact trade jobs like HVAC or Plumbing and so forth are all Associates Degree type programs themselves now.

Far as "working your way through Uni" in Aussie-speak goes, if you get a job flipping burgers, just the tuition alone is more than you make a year for full time.  What do you eat on?  Where do you sleep?  You gotta take out loans for the dorms, food and books minimum.  Part time?  Takes you 8 years to get your Bachelors, meaningless degree which gets you nothing anymore, another 6 years to get an MBA or JD.  So now you are 32 years old with the right sheepskins, except you got ZERO experience and the high paying jobs in the Big Banks are handed off to the 25 year olds graduating from Harvard who went full time on Dad the Pigman's dime.

As long as the industrial meme has been functioning, the Sheepskin was the Ticket out of the Lower Class and into the Middle to Upper Middle class.  So if you were poor, the Economic Gun was take out the loans sonny boy or stay poor.

Now, for a while there, the DESPERATELY poor got Handouts to go to school, not to mention Affrimative Action for the Melanin Gifted jumping them up the line ahead of kids with better SAT scores, but those handouts are disappearing.  Although Lucid Dreams here did get a Pell Grant to go to Nursing School which should cover most of his bills.

Anyhow, even back in my day when it was a lot cheaper, even with scholarships AND getting a Work-Study Job I STILL had to take out loans to get everything covered, and then I did get a big bucks job for a while and paying the monthly bill was easy.  I should have paid the whole thing off the first year instead of stuffing Coke up the noses of Joffrey Ballet dancers, but what self-respecting young Pigman would wanna do that?  LOL.  Anyhow the damn bill haunted me for years after that, particularly when my Union went on strike for 6 months and I got behind on everything.  In the end that bill did get paid off, mainly by running up Credit Card bills to pay for everything else.  Then I declared BK finally and got out from under all of it. 

The bottom line here is if the society puports to be Equal Opportunity, then Education should be free for everyone, or paid for by the society as a whole, however you want to phrase it.  Otherwise, the Rich got MORE opportunity, and MORE is not EQUAL.  The Son of a Pigman going to school has far more time to study for Midterms and Finals than his Working Stiff classmate, who shows up dead tired for class because he was working all night stocking shelves at Walmart.  This is a totally unlevel playing field, not the mark of a society which purports to Equal Opportunity.

Take some resonsibility?  Bullshit.  The game is rigged so you fork over interest payments for years to keep the rich rich and the poor poor.  Everybody Knows. Pump Up the Volume!

<a href="http://www.youtube.com/v/PuuCezrAUKk" target="_blank" class="new_win">http://www.youtube.com/v/PuuCezrAUKk</a>

RE

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